Zurcher Kantonalbank Zurich Cantonalbank Has $14.82 Million Stock Position in Ares Management Corporation $ARES

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Ares Management Corporation (NYSE:ARES) by 35.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 91,686 shares of the asset manager’s stock after buying an additional 24,187 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Ares Management were worth $14,819,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of Ares Management by 3.5% during the 3rd quarter. Vanguard Group Inc. now owns 21,676,470 shares of the asset manager’s stock worth $3,465,851,000 after buying an additional 740,103 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of Ares Management by 26.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,705,599 shares of the asset manager’s stock worth $922,196,000 after buying an additional 1,187,174 shares during the period. Capital International Investors grew its position in shares of Ares Management by 0.4% during the 3rd quarter. Capital International Investors now owns 4,243,194 shares of the asset manager’s stock worth $678,448,000 after buying an additional 15,913 shares during the period. Principal Financial Group Inc. grew its position in shares of Ares Management by 2.8% during the 3rd quarter. Principal Financial Group Inc. now owns 3,534,773 shares of the asset manager’s stock worth $565,180,000 after buying an additional 94,825 shares during the period. Finally, LRI Investments LLC grew its position in shares of Ares Management by 10.2% during the 3rd quarter. LRI Investments LLC now owns 2,586,253 shares of the asset manager’s stock worth $413,516,000 after buying an additional 238,531 shares during the period. 50.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Ares Management news, Director Judy D. Olian bought 480 shares of the stock in a transaction that occurred on Friday, February 20th. The stock was acquired at an average cost of $124.43 per share, with a total value of $59,726.40. Following the purchase, the director owned 29,734 shares in the company, valued at $3,699,801.62. This trade represents a 1.64% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ashish Bhutani bought 10,000 shares of the stock in a transaction that occurred on Friday, February 6th. The shares were acquired at an average cost of $126.61 per share, with a total value of $1,266,100.00. Following the completion of the purchase, the director owned 34,071 shares in the company, valued at $4,313,729.31. This represents a 41.54% increase in their position. The SEC filing for this purchase provides additional information. 36.86% of the stock is currently owned by corporate insiders.

Ares Management Price Performance

NYSE ARES opened at $120.97 on Thursday. The business has a 50 day simple moving average of $112.43 and a 200 day simple moving average of $140.92. Ares Management Corporation has a 52-week low of $95.80 and a 52-week high of $195.26. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.22 and a current ratio of 1.22. The stock has a market cap of $39.86 billion, a price-to-earnings ratio of 71.58, a PEG ratio of 1.06 and a beta of 1.52.

Ares Management (NYSE:ARES) last posted its earnings results on Thursday, February 5th. The asset manager reported $1.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.26). Ares Management had a return on equity of 19.04% and a net margin of 9.41%.The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the previous year, the company posted $0.55 earnings per share. Analysts anticipate that Ares Management Corporation will post 6.25 earnings per share for the current fiscal year.

Ares Management Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th were paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend was Tuesday, March 17th. This is a positive change from Ares Management’s previous quarterly dividend of $0.84. Ares Management’s dividend payout ratio (DPR) is currently 319.53%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ARES shares. Oppenheimer decreased their target price on Ares Management from $215.00 to $147.00 and set an “outperform” rating for the company in a research report on Monday, April 13th. Wall Street Zen lowered Ares Management from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. Barclays decreased their target price on Ares Management from $138.00 to $127.00 and set an “overweight” rating for the company in a research report on Wednesday, April 8th. TD Cowen restated a “buy” rating on shares of Ares Management in a research report on Wednesday, January 14th. Finally, Citizens Jmp decreased their target price on Ares Management from $205.00 to $190.00 and set a “market outperform” rating for the company in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $166.73.

About Ares Management

Ares Management Corporation (NYSE: ARES) is a global alternative asset manager that provides investment solutions across credit, private equity and real estate. The firm originates and manages capital across a range of strategies including direct lending, syndicated and special situations credit, private equity buyouts and growth investments, and real estate equity and debt. Ares serves institutional investors, insurance companies, pension funds, sovereign wealth funds, and high?net?worth clients through both commingled funds and bespoke managed account structures.

Within credit, Ares offers strategies spanning leveraged loans, structured credit, opportunistic and distressed debt, and specialty finance, with an emphasis on underwriting, portfolio construction and active asset management.